Scottish car company secures £2m
Cleantech venture capital investor Elbow Beach led a fundraising for Glasgow-based car production company Munro. The round will help the company deliver a customer order pipeline worth over £17m for 4×4 electric vehicles. Munro is targeting production capacity of 5,000 vehicles per year within six years.
Service group snaps up Welsh player
Aberdeen-headquartered Centurion Group continued its acquisition strategy with a deal to buy Kabin Hire of Caerphilly.
The Welsh group specialises in providing welfare and portable accommodation to the construction, groundworks, water and utilities sectors.
The existing Kabin Hire management team will remain with the business after the deal with Centurion which rents equipment and provides services to critical industries.
Veterinary firm wins backing
Veterinary diagnostics company, MI:RNA secured funding from Scottish Enterprise to support work to create an AI test for earlier diagnosis of osteoarthritis in dogs.
By enabling earlier detection, the new approach could significantly improve clinical outcomes and quality of life for affected animals. The funding comes a year after the Edinburgh-based business secured £3m in Series A funding in a deal backed by investors including NovaQuest, Kyoritsu Holdings, Gabriel, Equity Gap and Scottish Enterprise.
Spin-out to harness water warmth
University of Edinburgh spin-out SeaWarm secured £550,000 in funding to roll out its renewable heating system.
SeaWarm heat exchanger technology harnesses warmth from rivers, lochs, seawater, and minewater to deliver heating and cooling.
The investment included £250,000 from Equity Gap and Scottish Enterprise, and £50,000 from Old College Capital, the University of Edinburgh’s in-house venture investment fund.
Cheese kit company acquired
Artisan food firm Natural Larder Collective added Haddington-based The Big Cheese Making Kit to its portfolio.
The UK’s home cheesemaking brand was founded by Ailsa Proverbs who has now become head of sales for Natural Larder Collective. The deal came just weeks after the Big Cheese Making Kit secured a deal with Aardman Animations to create a new range.
